How long before you can cash out refinance?

[Kyle Swarts]

I found a 2 bed 1 bath house with a decent outside, gutted inside. House was built in 66 I believe. Has a 1 car garage. Its listed for 5k. I'm estimating around 35-40 ,to rehab. Potentially add 1 bed, 1 bath, update garage, clean yard, add a new fence to the perimeter, rent and refi. I believe I could get over $1000 a month in rent for this property. I'm going to do more due diligence tonight.

My question is, how long do you have to own a property before being able to refi? I'm looking to use investor/hard money lender to fund the remodel and then repay with the refinance.